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Regional House Prices Stable In June Quarter

By Phillip Lee

The median price of a house in Regional Victoria reduced by 0.8 per cent in the June 2013 quarter from $308,500 to $306,000 with main regional centres property markets stable.

REIV CEO Mr Raimondo said “conditions for both buyers and sellers look very solid in the lead up to the spring selling season.

“Interest rates are low, consumer sentiment has improved, and clearance rates are higher. Those considering buying or selling should take advantage of these improved conditions.

“Median house prices in key regional centres were stable with a 0.9 per cent rise in Ballarat to $287,500; no change to the $310,000 recorded in Bendigo during the March quarter; and no change to the $385,000 recorded a quarter ago in Geelong.

“In comparison demand was strong in the Macedon Ranges and the Mount Alexander Shire with a one per cent and 1.1 per cent rise respectively.

“Prices also showed very strong growth in the Surf Coast Shire with a 4.27 per cent rise recorded.

“Demand in Warrnambool and Mildura reflected the larger regional centres with a 0.8 per cent and 0.2 per cent rise respectively,” Mr Raimondo concluded.

REIV June 2013 Quarter Median House Prices for Ballarat Area

SuburbLower QuartileJun-13 MedianUpper QuartileMar-13 MedianJun-12 MedianQuarterly Change  Annual      Change
CITY OF BALLARAT$235,000$287,500$365,000$285,000$285,000     0.88%       0.90%
ALFREDTON$281,250$351,750$399,750$342,000$347,450     2.85%       1.20%
BALLARAT CENTRAL$250,250$297,500$389,625$295,500$299,975     0.68%      -0.80%
BALLARAT EAST$206,250$261,950$310,000$266,500$270,000    -1.71%      -3.00%
BALLARAT NORTH$252,000$285,000$340,000$290,000$270,000    -1.72%       5.60%
BLACK HILL$252,250$282,500$343,500$280,000$292,200     0.89%      -3.30%
BUNINYONG$314,000$379,000$475,000$381,000$364,500    -0.52%       4.00%
CANADIAN$226,500$290,500$358,750$285,000$308,000     1.93%      -5.70%
DELACOMBE$255,000$285,000$325,000$306,000$295,000    -6.86%      -3.40%
LAKE GARDENS*$378,250$427,500$562,500$405,000$425,000     5.56%       0.60%
LAKE WENDOUREE$426,000$595,000$720,000$522,500$525,000    13.88%     13.30%
MINERS REST$295,000$316,250$344,125$310,000$325,000     2.02%      -2.70%
MOUNT CLEAR$254,250$299,500$335,000$305,000$314,250    -1.80%      -4.70%
MOUNT HELEN$315,750$360,000$437,500$340,000$340,000     5.88%       5.90%
MOUNT PLEASANT*$217,750$260,000$282,500$256,500$262,500     1.36%      -1.00%
REDAN$200,000$234,950$258,000$238,000$245,000    -1.28%      -4.10%
SEBASTOPOL$213,250$245,000$272,500$232,750$233,000     5.26%       5.20%
SOLDIERS HILL$255,000$324,375$410,200$316,000$268,000     2.65%      21.00%
WENDOUREE$205,000$230,000$250,000$225,000$225,000     2.22%       2.20%

*Indicates that less than 30 sales were recorded during the quarter

Source: REIV

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